In the first deal, Minneapolis-headquartered Medtronic acquired CoreValve, developer of a transcatheter, transfemoral aortic valve replacement product. The deal calls for an initial payment of $700 million plus additional payments contingent upon the achievement of agreed milestones.

CoreValve Transcatheter Aortic Valve Replacement

In the second deal, Medtronic acquired Ventor Technologies, a developer of transcatheter heart valve technologies for the treatment of aortic valve disease. The company will acquire Ventor for a payment of $325 million.

While Medtronic is one of the global leaders in medical technology, it is not the leading heart valve manufacturer. That title is held by Irvine-based, Edwards Lifesciences.

However, from the looks of it, Medtronic is using the CoreValve and Ventor acquisitions to fuel its penetration of the prized minimally invasive, aortic valve replacement market. Edwards competes in that market with its SAPIEN aortic valve transcatheter technology.

It will be interesting to see how this plays out in the days, months, years ahead.